Investigating the role of education, renewable energy and governance in sustainable economic development: Empirical insight from ASEAN economies

This study endeavors to explore the determinants of sustainable economic development for ASEAN economies by examining the roles of governance, renewable energy and education in achieving sustainable development goals (SDGs). The findings illustrate that education, governance, foreign direct investment (FDI) and renewable energy resources play crucial roles in attaining sustainable development goals for ASEAN region economies. Conversely, the results corroborate that greenhouse gas emissions and natural resources depletion (NRR) have adverse effect on sustainable development. The results indicate that with good governance and effective resource management, ASEAN nations could build strong economies, unlike many other resource-rich countries that continue to struggle with poverty and conflict despite their natural wealth. The results of the interaction term for NRR with governance and education depicts a positive impact indicating that education and better governance can mitigate the adverse effect of natural resources on sustainable development. The results assert that education and effective governance will serve as potent catalysts for attaining the goal of sustainable development around the globe.